Huawei CEO Ren Zhengfei recently announced in Shenzhen that the company has developed its own MetaERP management system. This triggered speculation that the Chinese telecommunications giant was entering the ERP market, which resulted in a decline in domestic ERP-related stocks on Monday. However, Huawei insiders explained to reporters that the MetaERP management system is only for internal use, and that speculation about the company “entering the ERP market” is wide of the mark. Enterprise resource planning (ERP) is a type of software that enterprises use to manage day-to-day business activities such as accounting, procurement, project management, risk management and compliance, and supply chain operations. [Shanghai Securities News, in Chinese]